6. Deploy on the OpenPandora in whichever way most suitable. I used SCP.

This seemed way more complicated than I thought.
The CXXFLAGS was needed to get rid of a torrent of compiler warnings about redefined defines (if that makes sense).
I tried specifying --host=arm-none-linux-gnueabi to the configure script but then I had to build it with

Additionally, the OpenPandora customization (D-PAD support) was not built. The original toolchain script would download CodeSourcery 2011.09 (gcc-4.6) which would give me a torrent of other compiler warnings. Of course, that was before I did the CXXFLAGS trick so it could be possible that the older toolchain works without warnings as well.